DASH News: KFC In Venezuela To Start Accepting DASH Cryptocurrency

by | Dec 8, 2018 | Cryptocurrency, Cryptocurrency News

KFC | Venezuela | Dash | Cryptocurrency | Dash Payments

Dash News: To promote the mainstream adoption of Dash, its team is collaborating with various food outlets throughout the South American country, Venezuela. Most recent of there collaboration entails that KFC across the country will start accepting Dash payments.

Reportedly, the operation will initially roll out at a KFC located in Chacao Municipality, in Caracas, the capital of Venezuela. The chain will further expand to 24 other locations across the country.  The co-founder of Dash HelpDash Merchant Venezuela and Dash Text, Alejandro Echeverría, is one of the main aggregators for this step.

He and his team have been managing the partnership with KFC in order to further spread the adoption of the dash in Venezuela. He says:

Having a globally recognized brand such as KFC accepting dash payments in Venezuela is a great achievement for cryptocurrency and further validation of the continuing trend of dash adoption not only from a user perspective, but now merchants as well.

Echeverría added that people are choosing to use dash for their daily transactions as it’s an easy to use working payment solution. According to the data from, DiscoverDash, a dash merchant listing site, in less than a year the number of merchants accepting dash has risen to  2,427 merchants.

Echeverría further stated:

The dash movement is spreading and growing fast in Venezuela. First it was food trucks and small family businesses that started to adopt dash for payments, now we’re attracting more established businesses.”

Some of the notable Dash merchants in Venezuela include Subway, Papa John’s Pizza and Traki, a department store that is considered the Walmart of the country.

Dash Merchant Venezuela

An organization Dash Merchant Venezuela is aiding the increase in the number of merchants in Venezuela adopting dash, by teaching and convincing them about dash as a payment option.

Venezuelan bolívar is suffering hyperinflation, in fact, the International Monetary Fund (IMF) predicts that the hyperinflation likely to hit 1,000,000% this year. Echeverría wants citizens to have a strong currency to depend, in such troubling times. The dash team adopts a “Strategy for Adoption,” that is a three-stage process:  find the merchants, get dash into people’s hands and incentivize the consumption. The organization takes care of the first part of the process. Echeverría stated:

We have a sales team that is in charge of visiting and calling the merchants, convincing and teaching them all about dash and how to accept it as a payment method. We also have a quality control team who is in charge of doing frequent follow-ups to the merchants already affiliated and they guarantee the quality of the work done.

He further added that the platform aims to reach up to 10,000 merchants by 2019. To enable the merchants to accept dash payments, the Dash Merchant Venezuela sets up the first point of sale device that links the bolívar and dash rate. The system enables the merchants to accept payments, while the subsequent amount of money is redirected to the owner’s crypto wallet.

A “live tx tracker”, a POS device will soon be made available, that will show a live counter of the transactions done through the system in real time. According to Echeverría, on average, around 80 transactions per day are happening, also more transactions are taking place outside of the POS because not all merchants use it.
Echeverría added that 60% of the population in Venezuela don’t have smartphones while internet connectivity can be limited. In order to provide a solution for everyone regardless of the phone a point of sale system is used that works with Dash Text, an SMS wallet service.  Instead of scanning a QR code, a user will see a Dash Text code with the command ‘buy’ followed by a five-digit number to pay.
The system is currently only available in Venezuela, with around 2,030 numbers using it. Echeverría is hoping to expand to other countries

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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